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Construction spending expected to rebound this year in Manitoba

By: Staff Writer

Wednesday, Feb. 29, 2012 at 11:20 AM | Comments: 0

(JOHN WOODS/WINNIPEG FREE PRESS ARCHIVES)

WINNIPEG — Spending on construction projects and machinery and equipment is expected to rebound in Manitoba this year after increasing at one of the slowest paces in the country in 2011.

Statistics Canada’s latest cross-country survey of the investment intentions of private and public-sector organizations indicates Manitoba will see a 4.7 per cent increase in capital spending this year — $11.9 billion versus $11.4 billion in 2011.

That’s expected to be the fifth biggest increase among the provinces, and follows a modest 1.5 per cent gain in 2011.

StatsCan said this year’s rebound is expected to be led by a projected 6.8 per cent increase in construction spending — $8.3 billion versus $7.8 billion. Spending on machinery and equipment is expected to remain essentially flat, rising by only 0.3 per cent to just over $3.64 billion.

Nationally, Statistics Canada says public and private organizations plan to invest $394.1 billion in construction and machinery and equipment this year, up 6.2 per cent from 2011.

The agency says more than half the increase will be due to increased spending in the mining and oil and gas sector, where investment has been rising steadily since the 2009 economic slowdown.

It said private and public-sector investment in construction projects is expected to increase by eight per cent to $281.7 billion in 2012, while investment in machinery and equipment is expected to rise by 2.1 per cent to $112.4 billion.

murray.mcneill@freepress.mb.ca

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